George Soros, a billionaire philanthropist and Democratic mega donor, is putting $125 million into a super PAC to support Democrats running for office in November and beyond.
Soros, who made his fortune in hedge funds, is putting the money into the Democracy PAC, which he established in 2019 to assist Democratic causes, candidates, and committees. During the 2020 cycle, Soros invested over $80 million in the organization.
Soros stated that the enormous new infusion of funds will support pro-democracy causes and candidates, regardless of political party, who are committed to bolstering America’s democratic infrastructure, including voting rights and civic participation, civil rights and liberties, and the rule of law.
Soros, who originally shared his remarks with Politico, went on to say that the funds were intended to be a long-term investment that would support operations well beyond November’s midterm elections.
The PAC’s president will be Soros’ son, Alexander Soros.
The new gift will almost certainly put the older Soros among the top political donors in the 2022 midterm elections, making him one of the few people to have given a nine-figure sum in the latest election cycles.